American Energy Partners LP, founded by former Chesapeake Energy Corp chief executive, Aubrey McClendon, and private equity firm Energy & Minerals Group, have formed a company to invest in oil and gas pipeline and processing assets. American Energy Midstream will invest in shale formations where the firms are operating, including the Marcellus and Utica shales in Pennsylvania and Ohio, the Permian Basin in West Texas and the Woodford in Oklahoma, the companies said on Wednesday.Last week, American Energy Partners said it planned to purchase shale assets for $4.25 billion.The Oklahoma City, Oklahoma-based company - started a little more than a year ago following McClendon's ouster as CEO of Chesapeake - has secured $10 billion in financing commitments.Energy and Minerals Group, based in Houston, is run by John Raymond, son of former Exxon Mobil Corp CEO Lee Raymond.
Chesapeake Energy Corporation (Chesapeake) is a natural gas and oil exploration and production company. Shares of CHK fell by 0.2% or $-0.06/share to $30.49. In the past year, the shares have traded as low as $19.32 and as high as $30.80. On average, 8589830 shares of CHK exchange hands on a given day and today's volume is recorded at 2512548.
Exxon Mobil Corporation is a manufacturer and marketer of commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics and a range of specialty products. Shares of XOM fell by 0.04% or $-0.04/share to $102.38. In the past year, the shares have traded as low as $84.79 and as high as $103.45. On average, 10052200 shares of XOM exchange hands on a given day and today's volume is recorded at 3866773.
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